Can you get a refinance mortgage loan with no up front money and bad credit
I was behind on my property taxes. My mortgage company paid all taxes for 2009 and 2010 plus they are escrowing the 2011 taxes into my mortgage payments. Now mortgage payments are impossible to make. Can I refinance to pay mortgage company + taxes. with no out of pocket money. Total owed is 107,000. Value of home is $170,000. by kinkosma from 97236 Portland, Oregon. Nov 11th 2010
Patrick McCarthy (PatrickM)
#22 ranked lender in Ohio - 196 contributions
The answer to your question is Yes, depending upon how bad the credit is and what credit you think is bad.Pat McCarthy866-901-3576
Joseph Hendizadeh (josephh)
#343 ranked lender in California - 29 contributions
In order to be able to refinance several factors will be taken into consideration. As Patrick mentioned Credit is one of them, however Income, job stability and duration of job along with the equity in home are also important factors as well. Regarding tax payments most lenders encourage that the mortgage payment plus tax payments be made together so that it is paid in a timely manner preventing unpaid property taxes, however this is not a requirement by most lenders. Feel free to give us a call @ 877-834-3340 and ask for either Michael or Joseph and we will be glad to assist you with your loan and any questions that you may have for your home in Oregon.
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